What single payment 6 months from now would be economically equivalent to payments of $1500 due (but not paid) four months ago and $1800 due in 12 months? Assume money can earn 3.5% compounded monthly. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Equivalent payment : $

What single payment 6 months from now would be economically equivalent to payments of $1500 due (but not paid) four months ago and $1800 due in 12 months? Assume money can earn 3.5% compounded monthly. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Equivalent payment : $

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 31P

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